Nvidia hits a record high as Wall Street begins to understand its dominance of AI

Ethan Miller / Getty ImagesNvidia Founder, President and CEO Jen-Hsun Huang displays Nvidia’s Xavier AI car supercomputer as he delivers a keynote address at CES 2017 at The Venetian Las Vegas on January 4, 2017 in Las Vegas, Nevada. CES, the world’s largest annual consumer technology trade show, runs from January 5-8 and is expected to feature 3,800 exhibitors showing off their latest products and services to more than 165,000 attendees. (

Nvidia hit an all-time high of $US190.08 on Monday after another Wall Street bank took notice of its huge advantage in artificial intelligence.

Muse also thinks the company is underappreciated and expects AI to be the main driver to $US45 billion of growth at Nvidia. He said every computer will eventually have some AI component, representing a huge opportunity for chip makers like Nvidia.

Nvidia’s newest “Volta” chips are extremely powerful chips aimed at the data center market where a lot of AI processing power will live. The company is highly focused on this segment of its business, and BAML thinks it could grow 21% in 2018, according to CNBC, citing Arya. Nvidia started working on its AI programming platform in 2006, while other players have started their AI tech developments much more recently.